Chinese Debt destruction & non-performing loan cycle could lead to huge debasement of Yuan

Via Kyle Bass @ wallstreetweek.com,

[Editors Note]

Debasement of the Yuan would be extremely bullish for alternate money/currency including Bitcoin and Precious metals.

China has $22 trillion in deposits part of which could soon find its way into these assets, if debasement and capitals controls for the Yuan hits.

  • “Given our views on credit contraction in Asia, and in China in particular, let’s say they are going to go through a banking loss cycle like we went through during the Great Financial Crisis, there’s one thing that is going to happen:China is going to have to dramatically devalue its currency.”

Read more here..

 

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